Livonia, Mich.-based Trinity Health reported an operating income of $198 million (1% operating margin) through the first three quarters of fiscal 2025, up from an operating income of $70 million (0.4% margin) during the same period last year.
The system reported operating revenue of $19 billion through the nine months ended March 31, up from $17.8 billion over the same period last year. Net patient revenue grew 6% year over year, primarily due to improvement in payment rates and patient care volumes. These increases were partially offset by a $121.6 million fiscal 2024 CMS 340B remedy lump sum settlement.
Operating expenses totaled $18.8 billion through the third quarter, up from $17.7 billion during the same period last year. Salary and wage expenses increased 5.6% year over year with a 3.3% increase in full-time employees and a 2.2% increase in salary rates. Supply costs increased 9.5% year over year, driven by rate increases primarily related to retail pharmacy, drugs, and surgical supplies; and increased volumes
Trinity had 224 days cash on hand as of March 31, down from 238 on June 30. The system had a long-term debt of $6.4 billion as of March 31.
The system reported a net income of $725.4 million through the third quarter, down from $1.3 billion over the same period last year. The reduction was driven by $408.2
The reduction was driven by $408.2 million decreases in equity in earnings of
unconsolidated affiliates, primarily due to the disaffiliation of Clearwater, Fla.-based BayCare in the fourth quarter of fiscal year 2024.
